The Human Imprint

Which countries match the GDP and population of America's states?

This interactive map from The Economist makes fascinating reading

 

China's trade surplus narrows for a third straight year

China's trade surplus has narrowed for a third straight year as demand for its products weakened in the US and Europe. Commerce Minister Chen Deming said the surplus was around $160bn (£103bn) in 2011. That compares with a record of $295bn in 2008. China has warned that its export growth will come under more pressure this year as US and European economic problems persist. The government has been trying to boost domestic demand as a result.

Source: BBC News

India's growth rate rises to 8.8%

BBC News reports that "India's economy grew at its fastest rate for more than two years in the last quarter, according to official data. In the three months to June, GDP was up 8.8% compared with the same period last year. Although only the 11th biggest economy in the world, India is the second fastest-growing, behind China". Follow the link to read the full article.

EU agriculture employs fewer workers

Euractiv.com reports that new statistics show that employment in the agricultural sector has fallen by 25% since 2000, with reductions between 2.6% fewer jobs in Greece and 55% fewer in Estonia.

"The highest job losses were reported in the new member states, where employment fell by an average of 31.3% between 2000 and 2009. The 'old' member states of the EU fared somewhat better, recording an average decrease in labour input of 16.7%. Portugal and Poland are the exceptions to this rule, recording decreases of 31.6% and 11.3% respectively".

In new member states, agricultural labour input still accounts for 51.7% of the EU-27 total. The EU-27 average of 25% represents a loss of 3.7 million full-time jobs, from 14.9 million in 2000 to 11.2 million in 2009.  "Between 2000 and 2009, real agricultural income per worker in the EU-27 increased by an average of 5%, but national figures ranged from a 140% increase in Latvia to a 28% fall in the Netherlands". Quite a stark difference!  Between 2008 and 2009, real agricultural income per worker fell by 11.6% in the EU-27 mainly due to falling output prices. This poses real questions about the economic stability of rural areas in Europe.

One in three Indians under the poverty line

After my post a week or so ago regarding food stamps in America I was concerned to read the BBC News article that "every third Indian is living below the poverty line". This article is based on a report by economist Suresh Tendulkar who used money spent by a person on specific household goods and services to define the poor. I think it is important to recognise that "barter" types of trade would therefore not be included in this statistic which in many poor regions of the world is a part of the economy that is often unrecognised.  The report identified that the number of poor in cities had decreased, while those in villages had gone up.

The article states that: "The report has moved from the traditional method of enumerating the number of people living in poverty by measuring their calorie intake to one based on their spending on essential goods and services. Based on the new method, it found 37.2% of Indian's people living below the poverty line. The report found that over 40% of rural people survive on a per capita expenditure of 447 rupees ($9.6) every month, spending on bare essentials like food, fuel, clothing and footwear". 

This is a lower line than the "dollar a day" povery line often discussed - how much of India's population would fall below that line? This is a stark reminder of spending power across the world as I am submerged in the mist of christmas shopping fever in the UK.

US exposure to financial crisis is $23.7 trillion

BBC News reports that the total exposure of the US government to the financial crisis could hit $23.7 trillion (£14.3tn). I can't actually visualise this amount of money!

Click on the link to read the report.

IMF may run out of cash in six months

The Telegraph reports that the Managing Director of the International Monetary Fund, Dominique Strauss-Kahn, said that the Fund needed an urgent cash infusion if it was to continue bailing out troubled economies in the future. The article stated that "Mr Strauss-Kahn also indicated that the world's advanced economies were now tipping from recession into full-blown depression, cementing fears about the scale of the economic slump in rich nations".

He is quoted as saying: "Today, the IMF's resources are enough to face the situation but because we are facing a global crisis, the needs may be much bigger than previously," he said. "We have to intervene in Asia, Africa and Central Europe, Latin America, and maybe elsewhere. I can't promise that in six to eight months from now, we will have enough resources."

Follow the link to read the full article.

Social media and product recalls

There have been twelve further peanut related recalls in the last twenty-four hours identified by the FDA so the list of products affected continues to grow. What I have found interesting as this recall has developed is the use of social media as a communication tool with the general public.

This has included UTube communication from the FDA with Fox News to Lance peanut butter crackers who issued a video to say their products were not part of the recall. The FDA has set up widgets for blogs - I have added to my site (Food Safety Chat) and there have also been groups set up through Facebook - about the incident.

Product recall procedures are developed as part of the due diligence requirements of food businesses. Developers and coordinators will soon have to recognise that social media is a key communication tool in the event of a product recall and determine how they can update their protocols to use the medium effectively.

GDP up or down?

Continuing the theme of financial facts and figures the recently updated "Outputs, prices and jobs" page on The Economist makes sobering reading.  I will continue to follow the trends in 2009.